Scotiabank Forecasts Strong Price Appreciation for Agnico Eagle Mines (NYSE:AEM) Stock

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price hoisted by investment analysts at Scotiabank from $105.00 to $126.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s price objective would indicate a potential upside of 7.22% from the stock’s previous close.

AEM has been the subject of a number of other research reports. National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. TD Securities cut their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $114.00.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM traded down $0.14 during midday trading on Monday, reaching $117.51. The company had a trading volume of 1,055,408 shares, compared to its average volume of 2,416,563. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $101.63 and its 200 day simple moving average is $89.82. Agnico Eagle Mines has a 1 year low of $60.15 and a 1 year high of $119.22. The stock has a market cap of $59.14 billion, a P/E ratio of 31.09, a P/E/G ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. On average, analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Trading of Agnico Eagle Mines

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sivia Capital Partners LLC acquired a new stake in shares of Agnico Eagle Mines during the 1st quarter worth about $220,000. First Affirmative Financial Network purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter worth about $254,000. Kapstone Financial Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the first quarter worth $1,301,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Agnico Eagle Mines by 11.1% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,179 shares of the mining company’s stock valued at $236,000 after purchasing an additional 218 shares in the last quarter. Finally, Columbia Asset Management acquired a new position in shares of Agnico Eagle Mines during the first quarter worth $220,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.